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Automotive LED Light Market is Anticipated to Rise at CAGR of 8.6% to Reach US$ 19.05 Billion by 2034: Fact.MR Study

Automotive LED Lights a Hit Due to Extended Lifespan and High Energy Efficiency

Rockville, MD, Aug. 04, 2024 (GLOBE NEWSWIRE) — As per an updated study published by Fact.MR, a leading market research and competitive intelligence provider, the global

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Fact.MR, in its new offering, presents an unbiased analysis of the automotive LED light market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on technology (halogen, LED, xenon/HID), application (headlamps, DRL, sidelights, turning lights, CHMSL, tail lights, break lights, interior illumination lights, interior indication lights), and sales channel (OEMs, aftermarket), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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Auto Infotainment Market  : Size is projected at US$ 9 billion in 2024 and has been forecasted to rise at 9.7% CAGR to increase to US$ 22.7 billion by the end of 2034.

Industrial Truck Market: Size is estimated at US$ 29.96 billion in 2024 and has been projected to increase at a CAGR of 22.3% to reach US$ 223.66 billion by the end of 2034.

Automotive Interior LED Lighting Market: Size is estimated at US$ 32.7 billion in 2024 and has been projected to expand at 5.2% CAGR to increase to US$ 54.28 billion by the end of 2034.

LED Lighting Controller Market: Size is estimated at a valuation of US$ 801.2 million in 2024 and is forecast to climb to US$ 3.5 billion by 2034-end, expanding at a high-value CAGR of 15.9% between 2024 and 2034.

Automotive Exterior LED Lighting Market: Size is anticipated to grow at a compound annual growth rate (CAGR) of 7.6% over the next decade. Consequently, the market for these lighting solutions is expected to expand from US$ 1.33 billion in 2023 to US$ 2.77 billion by the end of 2033.

LED Lighting Solution Market:  Size is estimated to be valued at US$ 87,821.5 million in 2024. The market is estimated to expand at a promising pace of 10.1% CAGR to accumulate a total of US$ 2,30,156.2 million by 2034.

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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

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